N-contract unlikely during PM Russia trip
India and Russia are not likely to work on a comercial contract for Kudankulam 3 and 4 nuclear reactors during Prime Minister Manmohan Singh’s two-day visit to Russia beginning Thursday.delhi Updated: Dec 15, 2011 01:24 IST
India and Russia are not likely to work on a comercial contract for Kudankulam 3 and 4 nuclear reactors during Prime Minister Manmohan Singh’s two-day visit to Russia beginning Thursday.
The two sides are, however, keen on increasing the India's private sector participation to boost trade that is way below the potential.
The differences over India’s nuclear liability law and the failure to arrive at the terms of credit ensured the commercial contract for two more reactors at Kudankulam remain a work in progress.
“The negotiations are at an advanced stage”, said foreign secretary Ranjan Mathai when asked whether the deal for the two more reactors would be signed during the visit.
Mathai also avoided answering a question on Russians talking about the facility to set up reprocessing unit in its on territory and not in India.
"The both sides are discussing ENR (enrichment and reprocessing) technologies. The discussions are on," he said.
Singh would have a restricted meeting followed by delegation level talks with President Dmitry Medvedev on December 16.
Singh will also be meeting with Russia’s Prime Minister Vladimir Putin.
In another significant event, Russian President and Prime Minister Manmohan Singh will have a joint interaction with Indian and Russian chief executive officers.
There have also been talks of a joint investment fund between the two countries.
Such measures are expected to boost the bilateral trade besides addressing the perception that Indian private sectors are not keen on investing in Russia.